This post, we are going to touch on the 5 easy ways to start a business. Starting a business in the 21st century has never been easier, as the proliferation of web tools and online connectivity enable people to instantly have a business presence digitally. What used to be restricted to brick and mortar stores has now been transformed into a market which is increasingly dominated by online businesses. For example, we used to hail taxi physically, go to the malls for shopping and watch shows physically. However, the internet has helped us to enjoy all these services and very necessary tasks from the comfort of our own homes. Today, I will touch on ways you can use to leverage and become successful in your business pursuits.
5 Easy Ways to Start a Business
Starting a business gives you immense benefits such as:
- Being your own boss
- Not reporting to anyone higher than yourself
- Having a flexible time schedule
- The freedom of pursuing your dreams
- and more…
However, the pain and rigor that come with owning a business is also very real, and entrepreneurs have routinely complained about immense stress and fatigue. In fact, many entrepreneurs have claimed that they will not start another business if given the choice.
1. Blogging
Blogging is one of the most popular form of expression for many millennials. In fact, many adults engage in Blogging to make a living as well. Blogging is an increasingly popular career option for people who want to have the freedom of working from home. Make no mistakes, blogging is extremely competitive and you need to have a personality to do well. This personality emanates from not just your photos or writing style, but also your emotional response and commitment.
2. eCommerce
With an ever increasing number of online tools and software as a service solutions, online selling has never been easier. You can choose to sell as a business, or as an individual. For example, in Singapore, you can make use of C2C marketplace apps like Carousell or Shopee to sell certain items that are not needed. In fact, you could even sell things which you can buy on the cheap from other places. This is an increasingly competitive landscape, and you might want to consider your differentiation.
3. Freelance Business
Depending on your skill sets, you could try to opt for freelance work as well. Some people can write, while others can draw. There are many freelance websites offering gigs, and if you are good at something, why not offer your skills and build a business out of it. Search “freelance websites” on Google and you will come across a list of sites where you can monetize your abilities and skill sets.
4. Consulting Business
If you are an experienced professional, you could consider offering your services to the market. As an experienced professional, there will be specialized knowledge that could potentially younger companies and that is where you can come in. Build up your professional presence through LinkedIn and the web, and start advertising and completing projects to build a name for yourself. You might want to consider offering your services for free initially to gain some concrete case studies which can eventually be used when you are pitching your services.
5. Investing and Trading
Investing and trading is where the big money is in. Most investment and trading firms routinely make billions or hundreds of millions. If you have the capital, you could consider starting a financial services firm. This is one of the most lucrative business you can ever start/join. Most fund management companies adopt a 2 + 20 structure, meaning 2% management fees on AUM (Assets under Management) and 20% on profits.
With that said, only the first 4 options will be applicable to the general populace. I am working on the first 4 while preparing for the 5th. I hope this post has inspired you enough to start a business.
